Automatically Revoking a Guaranteed Payment

A Guaranteed Payment is revoked automatically on the expiration date or when a Customers tops up the Account balance, and if:

  • the amount of balance top-up equals or exceeds the amount of the Guaranteed Payment, then:
    • existing Guaranteed Payment is revoked;
    • the Account balance is topped up by the amount equal to the difference between the amount of the top up and the amount of the Guaranteed Payment.

For example, the Account balance is 300$ that includes a 200$ Guaranteed Payment. A Customer orders a Subscription that costs 10$, and the Account balance becomes equal to 290$. After that, a Customer tops up the Account balance for 250$. Consequently, following operations are performed:

  • a 200$ Guaranteed Payment is revoked automatically;
  • the Account balance becomes equal to 340$ = 290$ + (250$ — 200$)
  •  the amount of balance top-up does not exceed the amount of the Guaranteed Payment, then:
    • existing Guaranteed Payment is revoked;
    • new Guaranteed Payment is provided automatically. The new Guaranteed Payment amount is equal to the difference between the amount of existed Guaranteed Payment and the amount of the top up. The creation date of new Guaranteed Payment equals the current date. The expiration date of new Guaranteed Payment is equal to that of the revoked Guaranteed Payment;
    • the Account balance does not change.

For example, the Account balance is 300$ that includes a 200$ Guaranteed Payment. A Customer orders a Subscription that costs 10$, and the Account balance becomes equal to 290$. After that, a Customer tops up the Account balance for 50$. Consequently, following operations are performed:

  • a 200$ Guaranteed Payment is revoked automatically;
  • a new Guaranteed Payment is provided. The Guaranteed Payment amount equals 150$ = 200$ — 50$;
  • the Account balance does not change and remains equals to 290$.

If a Customer has several Guaranteed Payments they are revoked sequentially, beginning with the oldest.